Fed Unveils Stablecoin Rules Under GENIUS Act 
Fed Unveils Stablecoin Rules Under GENIUS Act 
BOJ Flags Import Costs and Yen Shocks as Persistent Inflation Risks 
RBA Hikes Interest Rate to 4.60% as Inflation Risks Rise 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Trump Demands Powell Resign Over Fed Renovation Cost Overruns 
Yen Sinks as BOJ Rate Hike Fails to Impress Markets 
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Lots of economic data and events scheduled for today, and some with high volatility risks associated.
Data and events so far:
- China: Manufacturing PMI rose to 49.7 in July. Non-manufacturing PMI declined to 53.7 in July.
- New Zealand: ANZ business confidence deteriorated to -44.3 in July. Activity outlook deteriorated to just 5 percent in July from 8 percent in June.
- Australia: Q2 CPI inflation rose to 1.6 percent y/y, up from 1.3 percent in Q1. RBA trimmed-mean CPI was unchanged at 1.6 percent.
Upcoming:
- Japan: Housing starts, construction orders, and consumer confidence reports to be released at 5:00 GMT.
- Germany: June retail sales report due at 6:00 GMT, followed by the July unemployment report at 7:55 GMT.
- United Kingdom: Nationwide house price report to be published at 6:00 GMT.
- France: Consumer inflation report to be released at 6:45 GMT.
- Spain: Q2 GDP report due at 7:00 GMT.
- Italy: July CPI inflation report will be released at 9:00 GMT, followed by the Q2 GDP report at 10:00 GMT.
- Eurozone: Q2 GDP, CPI inflation and June unemployment reports will be published at 9:00 GMT.
- United States: MBA mortgage applications report due at 11:00 GMT, followed by ADP employment report at 12:15 GMT, and Chicago PM report at 13:45 GMT. EIA will release its weekly crude oil inventory report at 14:30 GMT. Federal Reserve will announce monetary policy decisions at 18:00 GMT.
- Australia: Performance of manufacturing index to be updated at 22:30 GMT.
